Marketing Plan of Lux - 2484 Words

LUX 1. Introduction * Description of the product Everything about the brand – from the look and feel of the products and packaging to the subtle fragrances – is a delight to the senses. In fact, Lux has been making waves since 1924, when it launched the worlds first mass-market beauty soap at a fraction of the cost of some expensive brands. How it all started * Lux was first introduced as a toilet soap in 1925. Produced by Lever Brothers, it arrived in the UK in 1928, offering people a chance to pamper themselves for a modest price. * From the 1930s right through to the 1970s, Lux soap colours and packaging were altered several times to reflect fashion trends. * In 1958 five colours made up the range: pink, white,†¦show more content†¦Continuous commitment Were also committed to continuously improving the way we manage our environmental impacts and are working towards our longer-term goal of developing a sustainable business. Setting out our aspirations Our corporate purpose sets out our aspirations in running our business. It’s underpinned by our code of business Principles which describes the operational standards that everyone at Unilever follows, wherever they are in the world. The code also supports our approach to governance and corporate responsibility. Working with others We want to work with suppliers who have values similar to our own and work to the same standards we do. Our Business partner code, aligned to our own Code of business principles, comprises ten principles covering business integrity and responsibilities relating to employees, consumers and the environment. * The industry Unilever is an FMCG industry. FMCG industry, alternatively called as CPG (Consumer packaged goods) industry primarily deals with the production, distribution and marketing of consumer packaged goods. The Fast Moving Consumer Goods (FMCG) are those consumables which are normally consumed by the consumers at a regular interval. Some of the prime activities of FMCG industry are selling, marketing, financing, purchasing, etc. The industry also engagedShow MoreRelatedMarketing Plan: Lux Soap6666 Words   |  27 PagesProfile History of LUX Industry Analysis Swot Analysis Segmentation Basis Marketing Mix Product Life cycle EXECUTIVE SUMMARY Lux Soap came into existence in 1964. Lux occupies a large market share in the Pakistani soap market as well as the international arena. The new Lux, with the sunscreen formula, is targeted towards a different market segment as compared previously to previous Lux. Lux is the first brand to bring the sunscreen concept in soap industry. Lux plans to cater to all theseRead MorePestle Analysis On The Environment1259 Words   |  6 Pagesanalysis is used as a tool by companies to track the environment they are operating in. It gives a bird eye view of the whole environment from the many different angles one wants to check and keep a track of while contemplating on a certain idea or a plan POLITICAL: Guwhati tea factory had to be shut down due to threat and extortion ECONOMIC: There has been a hike in oil rates yet HUL maintains its profits and pricing power SOCIAL: In 2009, SANKALP an initiative was taken by HUL managers to introduceRead MoreCustomer Satisfaction on Marketing Mix of Lux Soap7469 Words   |  30 Pagesthat LUX is facing to manage the selling environment. LUX has stared so many projects to get a better position in the market. The objective of the study is to see customer satisfaction about marketing mix of LUX soap. 1.2 Significance This report is a requirement of the program for MBA program. We have tried our level best to make it as an excellent one. We used all the latest data and information. The report can help as the indicator of the level of satisfaction of the customers of the LUX soapRead MoreUnilever Pakistan Final Project10026 Words   |  41 PagesBalochistan University of Information Technology, Engineering and Managemnt Sciences Quetta. Group Members * Usman Anwar Chughtai(20419) MBA (Banking and Finance) 2nd Semester Marketing for financial Services Project on Unilever Pakistan Submitted to Sir Mohammad Asad 30th December 2012 Dedication This project is affectionately dedicated to our all lecturers of Management Sciences BUITEMS and the respective people of Unilever Pakistan who helped us in this project. Without their love andRead MoreEssay about Case Report Section D Group 113593 Words   |  15 Pagescompete with other well-known soap brands operating in the mass market. Thus, reposition the brand to build a long term brand equity. On the basis of a customer perception survey an analysis of brand image perception, functional benefits perception, marketing communication and advertisement perception was performed. It was found that Himalaya soap brand owns less than 1% share of the soap market. Its penetration is only among the urban population. However, almost 70% of Indias population resides inRead MoreLux Marketing Mix9703 Words   |  39 Pageswithout compromising on the quality. This report deals with one of its premier brands LUX. HUL leads the market in the toilet soap category with 54.3% market share. Lux has inched up to be on par with Lifebuoy in HULs soaps portfolio. The Lux brand now has an almost equal market share as Hindustan Levers largest selling soap brand - Lifebuoy. This report gives an overview of the history of the company and the brand Lux, the various strategies adopted to survive in the market for over 75 years andRead MoreBrand Cannibalization882 Words   |  4 Pageshigh quality products is the demand of the market. But what company would want to replace a high-priced product with a low-priced product? That s a good way to end up on the corporate chopping block. These lines aptly determine the paradox of a Marketing term known as CANNIBALIZATION. Market cannibalization is when sales of one particular product decreases due to the launch of another product from the same company. In the contest of enabling Brand Proliferation, in which a company introduces newRead MoreMarketing Analysis : The Field Of Marketing2269 Words   |  10 PagesIn the field of marketing, there are two major objectives. To first figure out what a customer might be in need of. Once that is established, the second main goal is to come up with creative ways to sell customers products. Marketing is all about searching for a purpose of a product and figuring out how to best brand a product for maximum profits. This can be done in many forms. Although, the most common way of persuading a client would be through verbally presenting your thoughts through a conversationRead MoreImpact of Celebrity Endorsement with Non-Celebrity Endorsement8007 Words   |  33 Pagesshould be an idea that makes the celebrity relevant to the product and the consumer. A celebrity s presence in the ad should be contextual. Therefore this shows that using a celebrity endorsement cannot guarantee fool-proof success and important marketing strategies has to be implemented before using them. So it is important that we analyze the impact of celebrity endorsing a product with a non-celebrity endorsing the same product. And must ask , do any stakeholders in a company (employees, contractorsRead MoreAsiatic Mindshare Ltd2391 Words   |  10 Pagessponsorship, research, direct response and idea generation. This approach allows them to deliver the brand message through the most effective media to the consumer. Critically they ensure this delivery is accountable and relevant to business and marketing objectives. The Mindshare way of Media, Mindshares unique working process ensures a consistent and thorough approach to delivering ‘House of Media’ solutions. This process is its operational backbone, supplemented by the distinct skills and practices

Aging Workforce in Singapore - 2339 Words

Overview of Aging Population in Singapore Populations in many developed countries are ageing, and Singapore is no exception. The first batch of post-war baby boomers will reach 65 years of age by 2012. The number of seniors will increase from 8.4% in 2005 to 18.7% in 2030 (refer to Table 1). According to the 2010 Population Report, The proportion of residents (i.e. citizens and PRs) aged 65 and above increased from 7.0% of the resident population in 1999 to 8.8% in 2009. Correspondingly, the number of younger residents aged 15-64 for every resident aged 65 and above (i.e. the old-age support ratio) fell from 10.1 in 1999 to 8.3 in 2009 (refer to Table 2). (Singapore Department of Statistics, 2010, p. 4) Today, one out of every 12†¦show more content†¦Solutions It is time for employers to start responding to the potential consequences of the ageing workforce on their businesses. If not well-prepared, employers may find themselves suddenly faced with labour loss, experience and expertise that will be difficult to offset, given the relatively small pool of new employees. With many companies facing the same problem, competition for new talents is likely to surface. A) Hotels can have interviews to know which areas older employees would prefer to work in and the languages they can speak. With the information gathered, hotels will be able to know their strengths and weaknesses which help to determine where to allocate each individual. With the proper job assignment, hotels will be able to maintain a good image, by reassigning the older employees with language barriers to the backhouse such as room attendant. This allows them to be in their comfort zone and after getting used to their task, the productivity will be maximized in both the frontline and backhouse. B) In order to keep older employees engaged and motivated, it is vital for the HR department to maintain constant communication with the older employees and understand any problems, issues and concerns that they are encountering. By treating their employees like familyShow MoreRelatedAging Workforce in Singapore2328 Words   |  10 PagesOverview of Aging Population in Singapore Populations in many developed countries are ageing, and Singapore is no exception. The first batch of post-war baby boomers will reach 65 years of age by 2012. The number of seniors will increase from 8.4% in 2005 to 18.7% in 2030 (refer to Table 1). According to the 2010 Population Report, The proportion of residents (i.e. citizens and PRs) aged 65 and above increased from 7.0% of the resident population in 1999 to 8.8% in 2009. Correspondingly, theRead MoreSingapores Rapid Economic Development Essay1018 Words   |  5 PagesDEVELOPMENT 4.1 AGING POPULATION Local and foreign labour are deemed essential to Singapore’s workforce in order to sustain competitiveness in economic development. However long standing past policy implication and current policy taken by the Government to spur economic development, could be argued to affect the labour market and SMEs in the long run. The past and current policies that might inflicted negative impact to labour market and SMEs are elaborated as follow: 1) Curbing Singapore growing populationRead MoreThe Population Of Singapore Is A Multicultural Country Essay1164 Words   |  5 Pagespopulation of Singapore has been increasing year over year resulting in 5.54million at the end of June, 2015. Since it is a multicultural country, the population can be distinguished into two major types - residents and non-residents. The resident population was recorded as 3.9 million including 3.38 million of Singapore citizens and 0.53 million of permanent residents. Other than that, 1.63 million of non-residents also play an important of Singapore population. (Department of Statistics Singapore, 2015)Read MoreA Government Can Run Like a Corporation and Fulfill Stakeholder Expectations. Do You Agree? (Use Singapore as an Example.)1483 Words   |  6 Pagesstakeholder expectations. Do you agree? (Use Singapore as an example.) Modern day corporations have not just an obligation to its bottom line but they are accountable towards the stakeholders as well. The accountability is even greater in the context of a country as the purpose of the government is to serve these stakeholders, mainly its citizens who put them there through voting power and the businesses which generate economic wealth for the country. Singapore Incorporated is one of the many names givenRead MoreThe Aging Process Essay791 Words   |  4 Pageswere nothing more than dreams. We succeeded in landing on the moon and communicating over long distance, yet there are still some boundaries we have yet to cross despite our best effort. Aging is an inevitable process of nature. While we cannot stop the ticking clock in our body, we have made it possible for aging to be delayed and relieved to a great extent through advance technology and modern governance. High-tech equipments and medications are available for the treatments of more illnesses asRead MoreSingapore Economy Essay1662 Words   |  7 Pagesï » ¿ECONOMICS ASSIGNMENT Singapore Economy (2004 to 2013) CONTENTS 1. Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.2 2. Production Output Performance Analysis†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..4 3. Labour Market Analysis†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..8 4. Price Level Analysis†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.10 5. Conclusion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.12 1. Introduction Singapore has a highly developed and free-market economy that thrives on an open and corruption-free environment. It is toutedRead MoreLabor Market in Singapore2318 Words   |  10 PagesIntroduction Since Singapore gained its independence in 1965, its economy had progressed due to globalization, rapid technological advances and the rise of China and India. With these different stages of development, Singapore’s labor market had adapted itself by transforming from a labor abundant and capital limited city into a labor deficient and capital rich country (Chia 2005). Singapore is now a popular export-manufacturing base, regional headquarter for foreign multinational company andRead MoreSingapores Globalized And Diversified Economy1664 Words   |  7 PagesSingapore Known as one of the Four Asian Tigers, Singapore’s globalized and diversified economy is only behind Hong Kong’s. That title has been achieved due to its market economy, â€Å"A highly developed, and one of the freest, most competitive, innovative and business friendly economy based on extended entrepà ´t trade, a profitable trading post that allows importing and exporting free of duties.† (Wikipedia) Worldwide, Singapore is one of the major commercial centers, third highest per capita incomeRead MoreThe Asian Tigers : Singapores Globalized And Diversified Economy1667 Words   |  7 PagesWorldwide, Singapore is one of the major commercial centers, third highest per capita income, fourth biggest in finance, and fifth among the busiest ports; yet, it has one of the highest income inequalities. Singapore’s trading and manufacturing represent 26% of its GDP. The Corruption Perception Index places Singapore along with New Zealand and the Scandinavian countries as one of the world’s least corrupt countries. Also, location, advanced infrastructure, low taxes, and skilled workforce are theRead MoreAsian Tigers Essay1057 Words   |  5 Pagesthe global economy has moved on from the Asian Tigers and the present and future of the global economy does in fact lie elsewhere, in particular India and China.   The Asian Tigers are a group of countries which are the first set of NIC s; Taiwan, Singapore, Hong Kong and South Korea. They underwent rapid development in the 1960 s by encouraging TNC s to invest by opening up manufacturing plants by offering cheap labour and less strict pollution laws. TNC s also had the advantage of low cost and

Sociology Unit G671 Free Essays

* Complicit masculinity – the ‘new man’ that is willing to cook tea, pick up the children from school and put the washing on. * Subordinate masculinity – the ‘gay man’ * Marginalised masculinity – the hegemonic man today. Associated with the working class, as this group of males can’t get the typical jobs, mining etc due to loss of industry so they can’t fulfil their ‘destiny’ Firstly, the family socialises masculinity in a number of ways. We will write a custom essay sample on Sociology Unit G671 or any similar topic only for you Order Now A study by Ann Oakley argues that gender socialisation takes place in 4 ways: Manipulation – Parents encourage behaviour, which is seen as normal for the child’s gender and discourage what is seen as deviant for example, boys are encouraged from an early age to take part in playing football and discouraged from taking part in ballet lessons. * Canalisation – this involves channelling the child’s interests to toys and activities seen as normal for his or her sex. An example of this is boys playing with toy cars and ‘action men’ Verbal appellation – the names that children are called which teaches gender appropriate behaviour for example, â€Å"big boys don’t cry† and the tone of voice used. * Different activities – children are encouraged to involve themselves in different activities for example, boys playing together to make a camp. Although Ann Oakley did her research 30 years ago and is considered out of date, a more recent study by Joanna Smith (1997) reinforces Oakley’s points. Feature Article –  Sociology Test A recent study also said that the family is stereotypically gendered to males, breadwinners and females, caring roles. (Charles 2002) This shows that boys can learn these roles from looking at their father’s behaviour. Secondly media plays a role in influencing masculinity. There are a range of different Medias, we can actively choose what we watch on the television and what magazines we read, however, to a degree, it is all around us. The adverts that are on How to cite Sociology Unit G671, Essay examples

Lending Money and Securing Loans free essay sample

Money and Securing Loans A company can finance its activities by selling shares or by raising money from banks or other money-lending institutions. If the company is granted a loan, the lender may become a debenture-holder. A debenture has never been satisfactorily defined. In Levy v. Abercorris Slate and Slab Co. (1883) 37 Ch D 260, Chitty J said â€Å"In my opinion a debenture means a document which either creates a debt or acknowledges it, and any document which fulfils either of these conditions is a debenture. Shareholders are members of the company and their rights have been described elsewhere in this book. Debenture-holders are creditors of the company and their rights are normally defined in the contract made between them and the company. It is interesting to note that, unlike shares, debentures can be issued at a discount unless they are convertible into shares, when such an issue at a discount would be an invitation to evade the rule that shares may not be issued at a dis count (Mosly v. We will write a custom essay sample on Lending Money and Securing Loans or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Koffyfontein [1904] 2 Ch 108). The lender may wish to secure his position by taking a charge over the property of the company, that is, creating a legal relationship between himself and the company which will ensure he is paid in priority at least to some of the other claimants against the company. 15. 1 Debenture-holder’s Receiver The power of a debenture-holder to appoint a receiver will be determined by the terms of the debenture itself. In the circumstances in which a receiver may be appointed, he will be appointed to collect the assets of the company with a view to the repayment of the debt due to the debenture-holder. He must, however, pay creditors whose claim should be paid before his, for example a preferential reditor under s. 196 Companies Act 1985 (CIR v. Goldblatt [1972] Ch 498). 15. 2 Fixed and Floating Charges It may be important for the purposes of determining the priority of charges to decide whether a particular charge is a ‘fixed’ or ‘floating’ charge. Essentially a fixed charge gives the holder the right to have a particular asset sold in order to repay the loan that he has given the company. This means that the company may not deal with the property subject to the fixed charge without the consent of the holder of the charge. A floating charge gives the holder the right to be paid in priority to others after the sale of the assets subject to the charge, but in this case the assets over which the charge floats are not specified. The company may continue to deal with them without the permission of the holder of the charge and it is only on the happening of certain events (such as non-payment of an instalment of interest or repayment of capital) that the charge will become fixed. On the happening of the event in question (which will be specified in the contract for the loan) the charge is said to ‘crystallise’ and will become fixed on the particular assets that the company holds at that moment which answer to the general description of the property over which the charge originally ‘floated’. It then becomes indistinguishable in form from a fixed charge. Thus, if the original charge ‘floated’ over all stock-in-trade and a crystallisation event occurred, the goods subject to the crystallised charge would be the stock the company owned on that particular day. After the crystallisation, the company would not be able to sall these assets without the permission of the debenture-holder. The court in Re Yorkshire Woolcombers Association Ltd [1903] 2 Ch 284 (see Casenote, page 328) grappled with the definition of floating charges. In the Court of Appeal, Romer J said: I certainly do not intend to attempt to give an exact definition of the term â€Å"floating charge† nor am I prepared to say that there will not be a floating charge within the meaning of the Act, which does not certain all the three characteristics that I am about to mention, but I certainly think that if the charge has three characteristics that I am about to mention it is a floating charge: (1 ) if it is a charge on a class of assets of a company present and future; (2) if that class is one which, in the ordinary course of the business of the company, would be changing from time to time; and (3) if you find that by the charge it is contemplated that, until some future step is taken by or on behalf of those interested in the charge, the company may carry on its business in the ordinary way as far as concerns the particular class of assets I am dealing with. ’ Thus, the idea of a ‘floating’ charge is that the company is unhindered from dealing with its assets despite the fact that an outsider has a legal interest in those assets.

Water war in the Middle East

Ette mea essays

Ette mea essays The book is divided into seven stories or chapters that are named Mattie Michael, Etta Mae Johnson, Kiswana Browne, Lucielia Louise Turner, Cora Lee, the Two, and the Block Party. This book is about the women who live in the community of Brewster Place, a poor Neighborhood on a dead-end street. The book displays the struggles of all African- American women. Throughout the novel there is a sense of sisterhood and although they had many differences, this is what helps them all to deal with the men who creates their problems. Together they can withstand the pressures of loss and pain that threaten to destroy their lives. There is a male versus female power struggle between the characters in the book I will be talking about Etta Johnson and her relationship with Rev. Moreland Woods. Etta Johnson is looking for a long term relationship that involves marriage. Rev. Woods want a "now and later relationship that involves having sex now and possibly revisiting his partner later without being committed to that person. Rev. Moreland Wood does have totally different motives for their relationship. Etta Johnson is jobless and looking for a man to take care of her. Ettas friend Mattie advised her to meet, "a man who'd be serious about settling down with you"(330) Mattie does not feel that the preacher is a good candidate for marriage, but Etta is content with her efforts to cause the residents of Brewster to, "be humming a different tune when (she show up there the wife of a big preacher"(331) Etta learns that she is used for sex as power it is but not powerful enough to cause the Rev. to want to marry her. Rev. woods is looking for something less committing than marriage. Woods is looking for a one time event and thinks of his encounter with Etta as a game. Rev. Woods calls Etta "worldly woman"(333) and commends her on her knowledge and "understanding the temporary weakness of the flesh and don't make it out to be something bigger tha...

Geo Lab Questions Essay Example | Topics and Well Written Essays - 1000 words

Geo Lab Questions - Essay Example Some of the most salient landscape features found in Los Angeles include mountains, rivers and beaches. In fact, the landscape of Los Angeles has created geologic instability in the area. The main types of rocks that influence the landscape of Southern California are the sedimentary rocks located in the region. Research asserts that the Southern California region has numerous petroleum fields which are mainly formed as a result of sedimentary rocks (U.S Department of State, 2012). McWilliams, C. (2009). Southern California: An island on the land. (9th ed.). New York: Peregrine Smith Press. U.S Department of State. (2012). Minerals. Retrieved from http://countrystudies.us/united-states/geography-5.htm Question 4 A plate boundary is defined as the region found at the edge of the lithospheric plates. According to the discipline of geography, there are three types of plate boundaries. They include convergent, transform and divergent boundaries. Transform or conservative boundaries are fo rmed when two plates slide past each other along transform faults. In addition, convergent or destructive boundaries are formed when two plates move towards each other. Lastly, divergent or constructive boundaries are formed when two plates move away from each other (Condie, 2009). The movement of these plates always leads to the formation of certain physical landmarks. For example, Iceland is continually separating along the Mid-Atlantic ridge. These divergent forces are attributed by the American and Eurasian plates. This separation has led to the formation of a new crust. However, researchers claim that soon enough Iceland will be separated into two land masses because of the broadening of the crust (Harden, 2011). Condie, K. (2009). Plate tectonics. United States: Butterworth-Heinemann Press. Harden, D. (2011). California geology. New York: Prentice Hall Press. Question 5 According to experts in the field of geography, there are several types of features that are formed through either wave or wind action. Research proves that there are both soft and hard features that are formed along the coastline (Jervis, 2009). The aspect of softness or hardness of a physical feature formed at the coastline mainly depends on certain phenomenon. For example, a spit can be identified as a soft feature that is mostly found at the coastline. In most cases, spits are located at regions with shallow waters whereby there is a diversion in the direction of a coastline. A spit is normally formed when deposition occurs at the shallow area. As deposition of finer material continues, the spit bulges outwards into the sea and is more visible. In addition, an example of a hard feature is a headland. A headland is formed through wave action whereby the force of the water hits the shore forming a land mass. In some instances, the formation of a headland is also boosted by the chemical content that is contained in the sea water (Haslett, 2009). Jervis, P. (2009). Physical features. Unit ed States: Folen Press. Haslett, S. (2009). Coastal systems. New York: Routledge Press. Question 6 It is factual that hot air balloons operate on the certain physical principles. When the amount of lift in the balloon surpasses gravity, then, it moves upwards. According to most physical theories, hot air balloons are supposed to be launched in the morning. This is because the stable winds allow the balloon to operate effectively. Since balloons move with air, most pilots

SOC 318 question set 2 Research Proposal Example | Topics and Well Written Essays - 2500 words

SOC 318 question set 2 - Research Proposal Example The decline in unionization means the continued expansion of the part-time, temporary, and contingent workforce, less job security, more economic insecurity, and a growing underclass of working poor. The vast majority of people living in poverty in the United States are not the unemployed, but the working poor. More than forty million Americans have no access to health care. Studies show that in industries with a high level of unionization, the wages, benefits, and working conditions of all workers in the same industry improve, whether or not they are unionized. Nonunion employers will frequently match union wages and benefits to maintain a competitive workforce. Conversely, in industries with low levels of unionization, there is much less regulation, and workers have few protections at the workplace. (http://www.jil.go.jp/event/ko_forum/kouenroku/documents/resume.pdf) Choose a leader of the labor movement. Conduct your own Internet research. You may want to search Ceasar Chavez, Jimmy Hoffa, Kate Mullany, Samuel Gompers, Crystal Lee Sutton (Norma Rae) or someone else. Introduce us to the person you have selected and the grievances they had with the workplace. What lessons can be learned from this leader Let's suppose the Department of L... identify three most important challenges facing the extractive industries today, 2. identify the single most underlying cause of these problems, and 3. offer one viable suggestion. Present your report to the class and decide which policy suggestion from the class is most realistic. Three most important challenges facing the extractive industries today are lack of effective communication, low trust for management, and ineffective technical infrastructure.A scenario in which management and employees talk and listen to one another and resolve problems together will increase employees' trust in management. If employees are to believe what the management says, there has to be continuous clear and open verbal and written communication, and this will be done according to a specific strategic plan of action. By not asking, not listening, not talking, not taking action and not opening numerous channels of communication, companies will feed the adversarial relationships that lead to unionization and to slowdowns, walkouts and strikes in companies where unions already are in place. (Harrow, 2004) 4. Hazardous work Based on information from the Census of Fatal Occupational Injuries, how do jobs in the extractive industries rate What three conclusions can you draw regarding the dangers in these workplaces Challenge or confirm the conclusions of your classmates. According to the Workforce Challenges and Opportunities for the 21st Century Forum, which was hosted in April 2004 by the GAO, the 21st century workforce in the United States is expected to have a very different set of challenges and opportunities than those encountered by previous generations. These observations certainly apply to the extractive

Starting and Developing a New Venture Essay Example | Topics and Well Written Essays - 2000 words

Starting and Developing a New Venture - Essay Example They have endured a lot and gone through many hurdles but their success is worth the risk they took. Their experiences in their different ventures are very vital for those aspiring to be in entrepreneurship. Although the two entrepreneurs have invested in different field, they have common entrepreneurial traits are attributed to them I regard to their line of work and which may have helped them become insiders and business mogul. All entrepreneurs have many things in common, but every one of them has a unique characteristic (Kaushik, & Bhatnagar, 2009, p.84). Stelios Haji Ioannou a self labeled serial entrepreneur studied Economics and later Shipping, Trade and Finance. He started working for his father and later set up his own shipping company with the capital he was given by his father. Haji started Easy jet in 1995 some years later after being acquitted by courts on charges of poor maintenance, manslaughter, intimidation and attempting to bribe witnesses. Haji held one of his serv ing crew responsible for the accident. On the other hand Richard Branson ventured into business at a tender age of 16. Though Branson had dyslexia and poor academic performance as a student, he later discovered his ability to connect with others. Entrepreneurial characteristics of Richard Branson and Haji Stelios Locus of Control The locus of control is the power in the principle that one can formulate and implement things. Most entrepreneurs have a high locus but in most cases they are poor in delegating duties. They are upbeat when it comes to venturing into business. They tend to be more practical and positive about their business ventures. In 1993, Branson took what most people thought was a very risky: the railway business. This is a good signal that he could do the impossible and make it happen in the practical world. Entering into the railway business for Branson was no weak point on his person but was by far and thick a measure of his ability to make things happen. For Haji taking on his business and making his firm the biggest budget airline corporation in Europe is not a small thing. By engaging in such a big venture against all odds Haji was taking the path often taken by very few people. Locus of control goes beyond setting up a venture and consists of such things like formulation, control and implementation. Branson and Haji are in that breed of entrepreneur who have managed to set themselves up and avail that consistent locus of control. Creativity and Innovation Necessity is the mother of invention. Most entrepreneurs rely on the necessity of a certain group of people. Curiosity and creativity is the quintessence of entrepreneurism. New products, new solutions and new ways are the core of creativity and in general entrepreneurism. It is about willing to think of all possibilities and opening one’s mind to creative things through being inquisitive of what is going on in the world and quite often generating a gimmick of stuff that suggests one’s ability to create new products that other people are afraid of thinking. Branson has been termed as one of the new generation of the creative world. He took products that were already in existence and made them look original. He has revolutionized the airline business by integrating it with other business ventures like the Virgin Fuels and Space tourism. Virgin Fuels was designed to respond to global warming and exploit the insistence spikes in

Use of Moral Hazards in Workplaces

Use of Moral Hazards in Workplaces The use of the term moral hazard has a history of more than 200 years. As Dembe and Boden (2000) showed that, since the 1600s, the term moral hazard is used in the discussion about the possibility of incentives for people under insurance to be less careful to protect themselves or insured goods and the tendency of fraud for obtaining financial benefits from insurance. It first appeared in the economic literature in the 1960s in terms of decision-making under uncertainty. Arrow (1963) and Pauly (1968) are two frequently quoted papers. Arrow (1963) considered moral hazard as one of the problems in the insurance market and pointed out that the assumption that insured events are taken place out of the control of insured individual is not really true in the real life and, therefore, there is not complete insurance market if the uncertainty exits. Pauly (1968) also explained that the moral hazard problem can be analyzed by orthodox economic tools in different kinds of insurance. In the economic literature nowadays, moral hazard is studied in various fields. Dembe and Boden (2000) concluded that there are two major categories of researches on moral hazard. One is originated from the early literature about insurance market; the other is about economic decision-making, such as finance, banking, accounting and management. In the current financial crisis, moral hazard is more frequently discussed and blamed as one of the causes of the banking problem. Summers (2007) claimed that the problem of moral hazard is overrated and warned people be aware of moral hazard fundamentalism. Dowd (2009) disagreed and believed that the problem is underrated and should be taken seriously. Dowd discussed the policy failures in the US financial industry in regards of moral hazard. Dow (2010) analysed the concept of moral hazard in relation to the financial crisis and concluded that there is immoral behaviour in financial market but the problem should go further than conventional understanding. The rest of the essay is organised as follows. In the second section, the definitions and nature of moral hazard are discussed. In section three, examples will be provided and analysed. I will also describe the ways to overcome these problems in the fourth section. 2. What is Moral Hazard? Moral hazard is defined in various ways in different aspects. The earliest explanation is from the perspective of insurance sector. Marshall (1976) provided the definition as any misallocation of resources which results when risks are insured with normal insurance contracts and only with such contracts. Briefly, moral hazard as the risky behaviour an insured individual may act because of the insurance cover. There are two kinds of moral hazard in insurance field. One of them is ex ante moral hazard, which is the risky behaviour itself. In this situation, the insured will act risky, which results in more payment by the insurer for the negative consequence. The other one is ex post moral hazard. This is the type of behaviour that people change their reaction of risk when insurance is provided or enlarged to cover their cost. Moral hazard can be also explained in terms of agent-principle problem. Dowd (2009) defined moral hazard as the potential behaviour that one party who is in the behalf of another party puts his own interest first. This definition is often used in management area. It is considered as the consequence of asymmetric information. Michael Parkin (2010) explained this as follows: In some markets, either the buyers or the sellers- usually the sellers- are better informed about the value of the item being traded than the person on the other side of the market. Information about the value of the item being traded that is possessed by only buyers or sellers is called private information. And a market in which the buyers or sellers have private information has asymmetric information. Asymmetric information causes two problems: adverse selection and moral hazard. Moral hazard is the tendency for people with private information, after entering into an agreement, to use that information for their own benefit and at the cost of the less-informed party. 3. Examples of Moral Hazard There are many cases about the moral hazard problem in insurance market. An example provided by Stiglitz (1997) is about the auto insurance in New Jersey. In the 1980s, New Jersey was considered to have the worst problem on auto insurance. It had no upper limit on the medical costs that could be claimed from any accident and the state even provided auto insurance, Joint Underwriting Authority (JUA), to drivers who are too risky to get insurance from private companies at a similar rate for the less risky drivers. The state suffered a big loss by its insurance policy. The traffic accident rate and car theft rate were much higher than most of other states. Drivers took more risky behaviour when they are insured against medical treatments and car theft. The JUA had accumulated a $3 billion deficit at the end of the 1980s and extra taxed were needed to cover the loss which brought big problem to the government. In finance and banking industry, moral hazard also can be found in various cases. Too big to fail banks speculative investment banking activities are guaranteed by the government, because their failure will influent the whole economy. The belief that they will always be rescued from collapse causes these big banks to take greater risks in their lending policies in search of higher returns. Another example of moral hazard problem in banking industry is that bankers encourage borrowing which is not in the customers best interest. In many business, bankers act as both lenders and financial advisors for their customers because of their financial expertise. Cases such as bankers provide advises in their own best interest rather than customers can be found. In many banks incentive systems, bankers can get bonus by lending more to customers, but will get no or an insignificant amount of penalties when the lending is not beneficial to customers or the debt cannot be collected. This would pro bably result in customers or banks losses which has little impact on the bankers individual benefits. Similar examples can be found in management area. Managers who act on the behalf of shareholders to operate the companies would take risky and short-term oriented strategies which could maximise their own benefits at the cost of shareholders. Managers whose payment is related to the companys profit would possibly carry out operation policy which would increase the profit within his employment period but might not create shareholders wealthy in the long run; some managers who hold the companys stock option might try to boom the stock price by fraud. These are all considered as moral hazard problems which come from the agency problem and the asymmetric information. The most famous example is probably the fall of Enron in which not only the governance and incentive of management were involved, auditing, fund management and financial analysts also played a part which can be considered immoral in this case. 4. Some Further Discussion In this section, after taking examples of moral hazard problem from different aspects, what they have in common are discussed. The question why moral hazard is considered as a problem will be analysed and possible solutions to these examples are also be provided. (1) Common features and negative consequence of moral hazard First of all, at least two parties are involved. In the examples of insurance, the two parties are the insurer (insurance companies or the state) and the insured party. In the banking examples, the problem is between banks and the state or bankers and customers. And in terms of management, it comes to agent (managers) and principle (shareholders). Secondly, one partys interest is guaranteed, which encourages taking higher risk. The loss of the insured party can be partly covered by the insurance no matter how risky his behaviour is. Similar feature is showed in the cases of banking and management, although they do have some risk management system to limit the risk within certain extent. Additionally, the highly risky behaviour of one party is difficult to or cannot be controlled by the other party. An auto insurance provider is impossible to control every insured drivers driving speed. Not all customers of banks and shareholders of companies have a clear view of what their agent (bankers and managers) are doing because of lacking private information and professional knowledge. Whats more, these moral hazard problems result in the cost of others and could lead to misallocation of social resources. The case of New Jersey auto insurance in the 1980s, the fall of Enron in 2001 and the recent banking crisis all caused huge social costs and brought economy problems. (2) Can these problems be overcome? Dowd (2009) suggested that measures that limit and eliminate moral hazard should be welcomed to reduce excessive risk-taking practice; and those create moral hazard should be avoid. Generally, a risk management system should be built. For example, insurance companies insure ones property up to a certain percentage of its replacement cost rather than fully cover it. Therefore, even if a big part of the risk is taken over, the insured party will still be worse off if bad thing happened. And this will encourage them to reduce their risk-taking behaviour. In Pauly (1968), deductibles and coinsurance are suggested to reduce the moral hazard. Deductible is an insurance in which an amount should be paid by the insured before the insurer will cover any expenses. Coinsurance is a sharing of risk between insurer and insured. Both methods aim to splitting and spreading the risk among the two or more parties involved in moral hazard problem. In Dowd (2009), he argued that the state support should be removed from banking and banks should survive on their own strength in order to remove the moral hazard. However, this would not be possible in practice. More essentially, the size of too big to fail banks should be cut down or controlled at a limited level. Moreover, better performance measurement and incentive system should be introduced. Credit rating by bankers should be carried out more effectively and bankers should bear the risk of their behaviour and get penalties for bad debt at an amount that is high enough to warn them to avoid the excessive risk. In terms of management, long-term performance measurement should be taken from the shareholders perspective; regulations that require more transparent disclosure are also highly required. Conclusion In this essay, definition of moral hazard and examples from insurance, banking and management perspectives are discussed. The commons of these examples include the parties involved in the moral hazard, the uncontrollable risky behaviour of one party whose benefits are guaranteed and the social costs which the problem brings. Risk measurement and control system should be built to reduce moral hazard problem. Solutions such as risk-sharing insurance, significant penalties of bad debt and long-term performance measurement are suggested.

How ATVs Work Essay -- essays research papers

Thesis statement: All terrain vehicles are helpful and useful and I will explain how they work and how to fix them in this paper. Outline: Inn this paper I will discuss ATV’s and general knowledge and getting them wet. I also will discuss their origin and how they need care and how to keep them doing good for a long time.   Ã‚  Ã‚  Ã‚  Ã‚   What is an ATV? It is an All Terrain Vehicle, also called three or four wheelers. It is also called a quad or ATV. An ATV is built to go where other vehicles cannot go. ATV’s are also built to handle a lot of stress and abuse. ATV’s are virtually indestructible; however, they have a few weaknesses and it is important to know and understand those few weaknesses. You should always do a complete check of your ATV before riding . Second, ATV’s also provide power and speed. There are also amphibian ATV’s that float and go like a boat. ATV’s were first â€Å"work† vehicles for telephone and electrical linemen and other types of people. They used the ATV’s to get from one pole to another that went over difficult terrain where 4x4 trucks could not go. (Estrem ATV’s 10)   Ã‚  Ã‚  Ã‚  Ã‚  Second, you do not need a special permit or driver’s license to drive a ATV although special training is recommend by several manufacturers and some even give seminars and free classes. I believe that some company’s give cash back to people who take classes. I ,myself, have not taken any of these classes. There are no age limits or restrictions because these are not operated on public streets, roads or highways. ATV’s are â€Å"Off-road† machines. There is also safety gear to protect you from harm. These accessories include helmets, gloves, boots, chest protectors and so on. (Estrem ATV’s 10-11) Third, ATV’s need some type of power plant to propel them. The types of power plants that are most common are the two stroke engine and the four stroke engine (A stroke is one movement of the piston Microsoft Encarta 96 Internal Combustion Engine). The general principle of the two-stroke engine is to shorten the periods in which fuel is put into the combustion chamber and in which the spent gases are exhausted to a small fraction of the duration of a stroke instead of allowing each of these operations to occupy a full stroke. In the simplest type of two-stroke engine, the poppet valves are replaced by sleeve valves or ports (openings in t... ...fied Buggy class. At home on sand, dirt, or the surface of Mars, these competition-designed vehicles spend as much time on their roll bars as they do on their tires. The series will feature another buggy class called the Stadium Lites. The Lites are an ultra-quick, lightweight version of the Supers and are based on Honda's Odessey/Pilot line of full roll cage ATVs. Finally, the Stadium Thunder Bikes will wow the crowd with high-flying action. These big, bad, four-stroke bikes are the same machines used from Baja to Supercross. (Internet VIA America Online Internet Provider)   Ã‚  Ã‚  Ã‚  Ã‚  In Conclusion ATV’s are fun yet dangerous. ATV’s require a lot of care and maintenance but they will give you a good feeling in life that cannot be matched. I have discussed Water damage and how to prevent it, good riding spots and how to care for the major parts of your ATV. I have also told about the the renewed interest of ATV stadium riding and racing. I have not tried this but it may be fun. Please though observe all rules and safety protocols to prevent injury or death. If you respect the laws and use common sense and care ATV riding and racing can be an enjoyable experience.

Britian during the First World War and The Social and Welfare

First World War How did women contribute to the war effort? Suffragist and suffragette member took men's places In Jobs when the men went overseas to fight. Hundreds and thousands of women were employed In munitions factories, in the transport system (conductors on buses and trams), employed as laborers on farms, as nurses and in offices a secretaries and receptionists. This was a crucial part of the war effort as it kept the country going. How were civilians affected by the war?During the war the government: Rationed food Civilian land was taken over by the government for food production diluted so people wouldn't get drunk British summertime was also introduced Beer was This was all under the Jurisdiction of the Defense of Realms Act (DORA) which was Introduced by the government In 1914. British summertime was Introduced so there were longer hours meaning that people could work for longer. Under DORA people could not discuss military affairs. How effective was Government propaganda during the war?A form of censorship was adopted in war time Britain, the government only allowed retain things in newspapers to be printed. Soldier's letters from the front were also censored. Posters were published to encourage the civilian morale. What was the attitude of the British people at the end of the war towards Germany and the Paris peace conference? During the war there were millions of deaths of soldiers on the front, and many permanently maimed by the war. The civilians were angry and wanted Germany to pay: a headline from a newspaper was ‘make Germany pay.British Depth study: social and welfare reform What were working and living conditions like for the poor in the 1 sass? Pollution: there was a large amount of pollution in cities due to the amount of coal burnt Overcrowding: large amounts of people were moving into cities to find Jobs, low wages and high rents meant families found the smallest places to live Disease: there were major epidemics all around Londo n due to overcrowding, low standard housing and poor quality water supplies Waste disposal: litter filled the streets along with horse manure. Human waste flowed into sewers and then Into the rivers.The free school meals were not compulsory but by the end of 1914 a large amount of he population were getting one good meal a day The pensions act meant that many of the elderly were kept out of the work house but it was refused to people who had never worked before Many of the Jobs that were in the exchange act were temporary or part time and the amount of Jobs available didn't increased The national insurance act was a good safety net for people who had fallen ill or were unemployed however they had to pay money out of their wages and wasn't enough for the whole family to live on Free medical treatment was only available to the wage earner

Nacthez essays

Nacthez essays The extravagant Natchez Nation stretched from what is now North Carolina to Arkansas during the times prior to the founding of the New World. They controlled numerous areas along both sides of the lower Mississippi River. (Barnett) The Natchez are a predecessor to the Moscogee or Creek Confederacy. Upon the arrival of the European settlers, the new diseases such as influenza, small pox, and cholera forced the Natchez as well as many other provincial nations to retreat back into Native American territory. (K.T. (Hutke) Fields) The Natchez could be given credit to the thousands upon thousands of valiant warriors who chased the crumbling and divided Spanish army under the leadership of Hernando de Sotos descendant Luis Moscoso de Alvarado. March 1682 sparked the beginnings of a relationship between the Natchez and the Europeans. Rene Robert Cavelier and his French expedition were the beginnings of what would from a distinct animosity between the people of the Natchez nation and the Fre nch. Shortly thereafter Fort Rosalie at Natchez was formed. This formed various disagreements between both the Natchez and the French. Fighting between both nations started which pushed the scattered remnants of the Natchez nation west. Many citizens went to live with their brethrens in the adjoining nations of the Chickasaws, Creeks, and Cherokees. (George Sabo III) The interactions with the different ethnicities such as the Africans and Europeans changed both the world of the new world and old world for better or for worse. As aforementioned the Natchez were one of the many mound building civilizations of the Mississippi Valley. The Natchez had a social organization that was basically based on the relationship of the members of the Great Sun. (George Sabo III) The community leader or Great Sun managed all tribal affairs. He was also the principal war chief. Virtually one could think of the Great Sun as the living God. (K.T. (Hutke) Fields) H...

The Divine Right of Kings and Humanism Essays

The Divine Right of Kings and Humanism Essays The Divine Right of Kings and Humanism Paper The Divine Right of Kings and Humanism Paper custom and precedent). In the middle of the 17th century, the English Royalist squire Sir Robert Filmer likewise held that the state was a family and that the king was a father, but he claimed, in an interpretation of Scripture, that Adam was the first king and that Charles I (reigned 1625–49) ruled England as Adams eldest heir. The antiabsolutist philosopher John Locke (1632–1704) wrote his First Treatise of Civil Government (1689) in order to refute such arguments. The doctrine of divine right can be dangerous for both church and state. For the state it suggests that secular authority is conferred, and can therefore be removed, by the church, and for the church it implies that kings have a direct relationship to God and may therefore dictate to ecclesiastical rulers. The most commonly studied form of absolutism is absolute monarchy, which originated in early modern Europe and was based on the strong individual leaders of the new nation-states that were created at the breakup of the medieval order. The power of these states was closely associated with the power of their rulers; to strengthen both, it was necessary to curtail the restraints on centralized government that had been exercised by the church, feudal lords, and medieval customary law. By claiming the absolute authority of the state against such former restraints, the monarch as head of state claimed his own absolute authority. By the 16th century monarchical absolutism prevailed in much of western Europe, and it was widespread in the 17th and 18th centuries. Besides France, whose absolutism was epitomized by Louis XIV, absolutism existed in a variety of other European countries, including Spain, Prussia, and Austria. The most common defense of monarchical absolutism, known as â€Å"the divine right of kings† theory, asserted that kings derived their authority from God. This view could justify even tyrannical rule as divinely ordained punishment, administered by rulers, for human sinfulness. In its origins, the divine-right theory may be traced to the medieval conception of Gods award of temporal power to the political ruler, while spiritual power was given to the head of the Roman Catholic Church. However, the new national monarchs asserted their authority in all matters and tended to become heads of church as well as of state, as did King Henry VIII when he became head of the newly created Church of England in the 16th century. Their power was absolute in a way that was impossible to achieve for medieval monarchs, who were confronted by a church that was essentially a rival centre of authority. The English humanists English humanism flourished in two stages: the first a basically academic movement that had its roots in the 15th century and culminated in the work of Sir Thomas More, Sir Thomas Elyot, and Roger Ascham, the second a poetic revolution led by Sir Philip Sidney and William Shakespeare. Though continental humanists had held court positions since the days of Humphrey of Gloucester, English humanism as a distinct phenomenon did not emerge until late in the 15th century. At Oxford William Grocyn (c. 446–1519) and his student Thomas Linacre (c. 1460–1524) gave impetus to a tradition of classical studies that would permanently influence English culture. Grocyn and Linacre attended Politians lectures at the Platonic Academy of Florence. Returning to Oxford, they became central figures in a group that included such younger scholars as John Colet (1466/67–1519) and William Lily (1468? –1522). The humanistic contributions of the Oxford group wer e philological and institutional rather than philosophical or literary. Grocyn ectured on Greek and theology; Linacre produced several works on Latin grammar and translated Galen into Latin. To Linacre is owed the foundation of the Royal College of Physicians; to Colet, the foundation of St. Pauls School, London. Colet collaborated with Lily (the first headmaster of St. Pauls) and Erasmus in writing the schools constitution, and together the three scholars produced a Latin grammar (known alternately as â€Å"Lilys Grammar† and the â€Å"Eton Grammar†) that would be central to English education for decades to come. In Sir Thomas More (1478–1535), Sir Thomas Elyot (c. 490–1546), and Roger Ascham (1515–68), English humanism bore fruit in major literary achievement. Educated at Oxford (where he read Greek with Linacre), More was also influenced by Erasmus, who wrote The Praise of Folly (Latin Moriae encomium) at Mores house and named the book punningly after his English friend. Mores famous Utopia, a kind of companion piece to The Praise of Folly, is similarly satirical of traditional institutions (Book I) but offers, as an imaginary alternative, a model society based on reason and nature (Book II). Reminiscent of Erasmus and Valla, Mores Utopians eschew the rigorous cultivation of virtue and enjoy moderate pleasures, believing that â€Å"Nature herself prescribes a life of joy (that is, pleasure)† and seeing no contradiction between earthly enjoyment and religious piety. Significantly indebted both to classical thought and European humanism, the Utopia is also humanistic in its implied thesis that politics begins and ends with humanity: that politics is based exclusively on human nature and aimed exclusively at human happiness. Sir Thomas Elyot chose a narrower subject but developed it in more detail. His great work, The Book Named The Governor, is a lengthy treatise on the virtues to be cultivated by statesmen. Born of the same tradition that produced The Prince and The Courtier, The Governor is typical of English humanism in its emphasis on the accommodation of both classical and Christian virtues within a single moral view. Elyots other contributions to English humanism include philosophical dialogues, moral essays, translations of ancient and contemporary writers (including Isocrates and Pico), an important Latin-English dictionary, and a highly popular health manual. He served his country as ambassador to the court of Charles V. Finally, the humanistic educational program set up at the turn of the century was vigorously supported by Sir John Cheke (1514–57) and codified by his student Roger Ascham. Aschams famous pedagogical manual, The Schoolmaster, offers not only a complete program of humanistic education but also an evocation of the ideals toward which that education was directed. Ascham had been tutor to the young princess Elizabeth, whose personal education was a model of humanistic pedagogy and whose writings and patronage bespoke great love of learning. Elizabeth Is reign (1558–1603) saw the last concerted expression of humanistic ideas. Elizabethan humanism, which added a unique element to the history of the movement, was the product not of pedagogues and philologists but of poets and playwrights. wsu. edu/~dee/GLOSSARY/DIVRIGHT. HTM http://history. wisc. edu/sommerville/351/351-172. htm historyguide. org/intellect/humanism. html wsu. edu/~dee/REN/HUMANISM. HTM

Adult Program Design Part II Essay Example | Topics and Well Written Essays - 1000 words

Adult Program Design Part II - Essay Example But the systems in every business also need to be audited in terms of their suitability and credibility. Before a business can be audited, it is wise to construct an audit design that will aid in the process of audit and not only look at the existing flow of transactions and their recording and reporting on financial statements and other records, but also recommend improvements and needed changes that will serve in terms of clarity, veracity and meet the laws and principles of the land. In this assignment we are going to design tests of controls, substantive tests of transactions, and analytical procedures for the acquisition and payment of the business called Apollo Shoes. The Acquisitions and Payments Process at Apollo Shoes It Is evident that we can only design an audit procedure or process around the existing flow of transactions and their processes at Apollo Shoes. Only in the case of massive fraud or circumstances warranting a detailed investigation would the complete revamping of existing procedures be understandable. According to the present Accounting and Control Procedure Manual as indicated in the Case Study details, all cash disbursements /payments are made by check, signed by the Treasurer, including those for petty cash transactions. Checks are always made out to a defined payee, never to cash. Blank checks remain in the custody of the Accounts Payable Department and the treasurer is not allowed to sign blank checks. Additionally, we see that checks are recorded in the cash disbursements journal using the date of the check, and in the general journal using the month of the check as a factor for recording these entries. Internal Control Procedures While it appears from the case study material especially the accounting and control procedure manual that some degree of internal control has been maintained over cash disbursements/ payments process, there are a few comments to be made. One factor is the separation of ownership and control. Since the tre asurer himself signs most of the checks, he can very well make them out to a fictitious vendor and then pocket the money himself after opening up an account in that name. The case of Comptronix as reported in Chapter 19 of the text indicates that collusion between unscrupulous individuals even in top management is not unheard of (Arens et al., 2006). Enron is another case in point. Secondly, the recording of transactions as per date made out on the check leaves some room for error and can result in reconciliation difficulties with the bank statement, as this is a common practice with nearly every business. It is better if a simple chronological order is followed date-wise in recording every transaction of whatever nature so that there is no ambiguity on this account. Concerning the purchase of fixed assets, the approval for the same is usually made in advance by top management. This ensures that they have approved the purchase. Budgetary allocation of funds is also evident, and all excesses of 10% or above to be signed off by the Treasurer. Payments once again are to be made by check. The automatic treatment of fixed assets of value of $5,000 and above as capital expenditure is questionable, and should be looked at on a case to case basis. Assessing Risk Factors Connected with the Acquisitions and Payment Process The risk factor involved due to concentration of the signing of all checks by the Treasurer has been indicated above. It is better that a combination of two signatures be required on every disbursed check. One can be the Head of Department or VP of the section of the business to which the check pertains, and the other would be the Treasurer. The

Compare and Contrast the customs of Mexican Americans and Puerto Term Paper

Compare and Contrast the customs of Mexican Americans and Puerto Ricans - Term Paper Example There are as many Puerto Ricans living in the United States than those living in the small island that has a population of four million (CountryWatch, 2011). Puerto Rico became property of the United States back in 1898 after the United States won the Spaniard-American war. A common trait between both ethnicities is that they are typically bilingual (English / Spanish). The Spanish spoken by Puerto Ricans is a bit different than the Spanish spoken by Mexican Americans in terms of words and accent. The parents of Puerto Ricans and Mexican Americans teach their kids Spanish at home and Spanish is often spoken in their households. Both races are sports fanatics. In boxing there is a big rivalry between Mexicans and Puerto Ricans. The Oscar De la Hoya vs. Tito Trinidad bout at the time was the biggest revenue generating non heavyweight pay per view bout in the history of boxing. Oscar De La Hoya is the most successful Mexican American fighter in the history of boxing. Baseball is the national pastime of Puerto Ricans, while many Mexican Americans prefer to play soccer. The tourism and travel tendencies of the two groups are different as Puerto Ricans often travel back and forth from the mainland US to the island of Puerto Rico. Sometimes Mexican Americans due to immigration issues of their parents do not travel as much back and forth. When they travel Puerto Ricans do not have to worry about foreign exchange considerations since Puerto Rico shares the same currency with the United States. Both ethnic groups believe a lot in the value of being a good host to their guests. Offering food and drinks to guests is a mutual custom of both groups of Latinos. The traditional foods of each Latino group are very different. Mexican Americans often eat a diet associated with floor tortillas, corn, refried beans, and rice, and chilies, spices, vegetables, beef, and cheese (CultureGrams, 2011). In Puerto Rico the most common meal is

Proposal Presentation - Five Guy's Term Paper Example | Topics and Well Written Essays - 1000 words

Proposal Presentation - Five Guy's - Term Paper Example In this case, researchers are made to go through an array of ethical requirements. There is the need to meet professional and institutional standards as well as those for conducting any research related to human participants. In helping steer clear of any ethical quandaries, this research would consider a number of research ethics. First, the researcher would frankly discuss the intellectual property with the participants (Bernardin & Nairn, 2008). More often than not, academic competitiveness leads to trouble depending on who should be credited for authorship. The best way to avoid disagreements on who is to be credited and which order to use, the researcher should talk about the issues at the beginning of the researcher's working relationships with the participants and should ensure they are put in writing (DiMauro & Grant, 2006). This will act as a tool to help discuss and evaluate the contributions during the research process. Secondly, the researchers would be conscious of multi ple roles of the participants. This could be achieved by avoiding relationships that might tend to impair the researchers’ professional performance or could cause harm to others. However, they will have to take note that many multiple relationships are not ethical especially if they could have some adverse effects (Goree, 2006). When recruiting participants in this study, the researchers would have to think carefully before commencing multiple relationships with students. In this case, the researcher would act as a lab supervisor as well as a mentor and would make sure he or she does not abuse the power to differentiate himself or herself from the participants (Bernardin & Nairn, 2008). The researcher would make sure he/she outlines the nature and structure of mentoring before the mentoring begins. Thirdly, the code of ethics to be upheld during the study would be to make sure the informed consent rules are strictly followed. Doing this properly, the consent process would ens ure that the participants voluntarily participate in the research when fully informed of the relevant benefits and risks. Lastly, the researcher would have to consider respecting the confidentiality and privacy of the participants. Respecting individual rights to confidentiality as well as privacy is a key tenet for every researcher (Bernardin & Nairn, 2008). The researcher will, therefore, have to discus confidentiality limits, giving the participants information concerning how their data will be put into use and for them to know the law of the state, as well as taking practical security measures. Failure of observing ethical stipulations may lead to incidences of taboos – a common element in the incidents of ethical based violations. However, the task of establishing personal ethics is rather demanding. This is with regard to the essence of ethics in an individual’s life. Adoption of appropriate ethical perceptions is a demand that is instilled in the person by his o r her immediate community. This makes ethics seem inclusive of an expectation as well as the desire to protect one’s perception of life (Goree, 2006). Ethical beliefs are regularly challenged, especially during the address of various aggressions in the daily lives. The success in the addressing of these challenges implies a positive or impressive performance of our ethical beliefs and research. The development of successful ethical trends is based

Ancient Indian Mathematics Essay Example for Free

Ancient Indian Mathematics Essay There are opposing views prevalent regarding the prominence of mathematics in ancient India. One, there are those who make excessive claims for the antiquity of Indian mathematics with the motive of emphasizing the uniqueness of Indian mathematical achievements. Whereas, the other conflicting views denies the existence of any ‘real’ Indian mathematics before A. D. 500. This view is the result of deeply entrenched Euro centrism that does not negotiate with the idea of independent developments in early Indian mathematics. Whereas mathematics grew out of philosophy in ancient Greece, it was an outcome of linguistic developments in India. In fact the algebraic character of ancient Indian mathematics is but a byproduct of the well-established linguistic tradition of representing numbers by words. ? Around 800 B. C. Vedic mathematics declined and Jains School of mathematics gradually which was to do notable work in the field. ? From about 200 B. C. was period of instability and fragmentation due to foreign invasions but also of useful cross cultural contacts. Probably the only piece of existing mathematical evidence from this period is the Bakhshali manuscript. ? This period ranges from 3rd to 12th centuries and is referred to as the classical period of Indian civilization. Mathematical activities reached a climax with the appearance of the famous quartet: Brahmagupta, Mahvika and Bhaskracharya. Indian work on astronomy and mathematics spread westward, reaching the Islamic world where it was absorbed, refined and augmented before being transmitted to Europe. This last period described as the medieval period of Indian history, saw the migration of astronomy and mathematics from the north to south. Particularly in present day state of Kerala, this was a period marked by remarkable studies of infinite series and mathematical analysis that predated similar works in Europe by about three hundred years. Harappan society was a highly organized society. There is every possibility that the town dwellers were skilled in mensuration and practical ar ithmetic of a bid similar to what was practiced in Egypt and Mesopotamia. Archaeological findings from that period provide the following indications of the numerate culture of that society: ? It shows uniformity of weights over such a wide area and time which is quite unusual in the history of metrology. Taking 27. 584 grams as a standard, representing 1, the other weights form a series of 0. 05, 0. 1, 0. 2, 0. 5, 2, 5, 10, 20, 50, 100, 200 and 500. Such standardization and durability is a strong indication of a numerate culture with wellestablished, centralized system of weights and measures. Scales and instruments for measuring length have also been discovered with remarkably high accuracy. A notable feature of Harappan culture was its extensive use of kiln-fired bricks and the advanced level of its brick-making technology. These bricks are exceptionally well baked and of excellent quality and may still be used over and over again provided some care is taken in removing them in the first place. Fifteen different sizes of Harappan bricks have been identif ied with standard ratio of the three dimensions as 4:2:1. It was thought until recently that from them evolved first the Bakhshali Number system and then the Gwalior system which is recognizably close to our present day number system. In both Bakshati and Gwalior number systems, ten symbols were used to represent 1 to 9 and zero. With them it became possible to express any number, irrespective of its largeness, by a decimal place value system. Long lists of number- names for powers of 10 are found in various early sources. In the Ramayana, it is reported that Rama had an army of 1010 +1014 +1020 +1024 +1030 +1034 +1040 +1044 +1052 +1057 +1062 +5 men. The very existence of names for powers of ten up to sixty two indicates that the Vedic Indians were quite at home with very large numbers. This is to be compared with ancient Greeks, who had no words for numbers above the myriad (104). The Jains who came after the Vedic Indians were particularly fascinated by even larger numbers which were intimately tied up with their philosophy of time and space. For units of measuring time, the Jains suggested following relationship: 1 purvis = 756 * 1011 days 1 shirsa prahelika = (8,400,000)28 purvis The last number contains 194 digits! The word numeral system was the logical outcome of proceeding by the multiples of 10. Such a system presupposes a scientifically based vocabulary of number names in which the principles of addition, subtraction and multiplication are used. Â  Due to oral mode of preserving and disseminating knowledge, the wordnumeral system persisted in India. As a replacement to this, a new concrete system was devised to help versification and memory, known as bhutasamkhya, wherein numbers were indicated by well-known objects or ideas.

The Purpose Of A Business Plan Business Essay

The Purpose Of A Business Plan Business Essay In most cases, a business plan is created to explain and illustrate the vision you have for your business, and to persuade others to help you achieve that vision. To accomplish this, your plan will need to demonstrate on paper that you have a firm visualization of what your business is going to be. It needs to convince others that your business concept can be successful and that you possess the expertise-alone or collectively-to assure that it will be both successful and profitable. Why is it important It is important to use a business plan when starting and running the business as it indentifies the business aims and objectives, also it is important to have one as it will allow the business to go back and see if the business is progressing in the developing business and if the business is on the track to achieve the aim. RANGE OF POSSIBLE IDEAS I had many potential ideas of the businesses that I would like to set up in Lisburn. My most favourite ideas which I was considering to start up are: Restaurant In the current time in Lisburn there are several restaurants and there is no which serves multinational menus which include European, Asian and American foods. I believe that this business could be successful as many of peoples would like to try other nationalities foods. To run this business successfully I will have to create a very warm and welcome premise to which lots of peoples will be able to like it and. Also the service and food will need to be high quality so the customers will love to come back. Advantages Original menu as no restaurants serves the food I would If the business will gain loyal customers the business will survive Disadvantages Risk of not getting into the taste of locals Competition with well established restaurants Unknown local suppliers product quality Inexperienced staff Sandwich bar In modern days more peoples are buying ready to do foods such as chips, crisps, sweets which are bad for health. My idea is to let adults and children to have a healthy break time eating fresh ingredients and healthy sandwiches. To survive I will need to provide my business with the equipment such as Toaster, Micro wave, Panini maker, Serving Unit Hot/Cold, Grills, Till and much more. Advantages Disadvantages Competition with well established businesses Inexperienced staff Unknown local suppliers product quality Coffee shop Many people are in the hurry in these days, where most of them dont have time to consume their breakfast at home. The coffee shop idea will allow to those peoples who have to travel long time to their jobs, to buy tea or coffee and the snack and consume on the way, this could save enormous amount of time if they could decide to do their lunch and coffee themselves. I will have to spend about  ¼ of my budget on the equipment where I will need to buy equipment such as coffee machine, cups (glass and plastics), plates and more. Advantages Disadvantages Competition with well established businesses Inexperienced staff Unknown local suppliers product quality Ice Ring Lisburn does not have many attractions in the city, so it could be a good idea to get everyone enjoy their afternoons on the ice cold ring. It could be a very good place to have fun with the family and friends away from their troubles. The business could survive as the only other attractions could be the swimming pool and cinema which are located in the city centre. Advantages Disadvantages Expensive to run and insure Lots of health and safety issues will need to be complete. After concluding my potential businesses ideas I had rejected some of the ideas as there was the possibility that they wont survive the first year of trading. This is the list in order of the businesses I want to operate. The first one is the business I am currently going for, the last one is the least possible for me to go for. Coffee shop Sandwich bar Restaurant Ice Ring After knowing what business I am going to open I had thought about the name for it. The name that the most attracts my attention is CS. It is short and easy to remember which is excellent name. LEGAL STATUS There are several legal statuses available for my chosen business: Solo trader This is when the business is owned and run by one individual; however this is mainly the local business and will normally not expand on an international level. Main advantages of a solo trader à ¢Ã¢â€š ¬Ã‚ ¢ 100% of control over the business it means that the entire business is controlled by one person only which is mainly owner. à ¢Ã¢â€š ¬Ã‚ ¢ Quicker at decision making it allows to easy and fast make decision as there is only one person whom make the decisions and dont have anyone to make the decisions. à ¢Ã¢â€š ¬Ã‚ ¢ Can keep 100% of profit if the business is well operating it even can make high wage and dont have to share profit with anyone. à ¢Ã¢â€š ¬Ã‚ ¢ Local business, therefore loyal customers from that area loyal customers may result in a consistent flow of money into the business. Main disadvantages of a sole trader à ¢Ã¢â€š ¬Ã‚ ¢ Unlimited liability this may meant that the owner may lose his personal possessions because of the business depth and cannot pay it back. à ¢Ã¢â€š ¬Ã‚ ¢ Heavy stressful workload because it is a solo trader business it means that the one person has to do all of the activities which includes paperwork and more, which could cause stress, about not completing it and of the lack of time. à ¢Ã¢â€š ¬Ã‚ ¢ Finance problems because the business small and is financed by one person and maybe by a bank loan. The solo trader may face finance difficulties if the business will get into the debt. Partnership a partnership is when between two and twenty peoples own a business, as there is large number of co-workers each is investing money in to the business and share the profit or loses of the business. Main advantages of a Partnership à ¢Ã¢â€š ¬Ã‚ ¢ More peoples investing money because there is many partners the large capital and large funds are raised quickly, this means that the business can easily and faster earn stable finance source than a solo trader. à ¢Ã¢â€š ¬Ã‚ ¢ More ideas because there is more than one person who owns the business, each has different ideas how to improve the business. à ¢Ã¢â€š ¬Ã‚ ¢ Shared workload as the business has more than one owners the workload can be easy shared between partners which decrease the possibility of stress. Main disadvantages of a Partnership à ¢Ã¢â€š ¬Ã‚ ¢ Disagreements as each of the partners have different ideas to improve the business the disagreements can appear as other person doesnt like the idea which is currently discussed. à ¢Ã¢â€š ¬Ã‚ ¢ Breakdown in communication this can be cause when one of the partners will decide to go ahead with their own ideas, in which case may cause other departments become confused and may lose the communication between each other. à ¢Ã¢â€š ¬Ã‚ ¢ Unlimited liability if the business will be in the debt there is possibility the owners will lose their personal processions to pay back the debt. Over considering different legal status available, I decided that the most appropriate status for my business is solo trader. Despise of all the disadvantages. I had chosen this legal status for the reason that I can test my self if I can run business on my own. Also I had choose it for the reason the I wont rely on any one with decision making and I will operate the business as I want. I did not choose the partner ship as we may have disagreements which may have effects on business which may lead to close down; this is the risk that I dont want to take, as I may loose lots of my money. RESEARCH COMPREHENSIVE ANALYSIS The primary research that I had carried out was a questionnaire which I had held in the city centre of Lisburn. I choose this destination as this is where I am hoping to set my business. From the questionnaire I will receive the overview and the opinions of my future target market. Primary research The first question I had asked in the questionnaire was What age group would you be in? Form this question I had found the majority of my target market would come from 18-20 age group. The second popular age group was 21-30age group and 31-40 age group as both has the same percentage. The second question I had asked in the questionnaire was How often to you visit coffee shop? The result was very interesting as 40% of people who had fill in this questinoaire had said that they are visiting coffee shops every day. The 28% said that they are visitgin coffee shop weekly. I also asked if they would be interested if I would provide any refreshments suchas sandwitches and fresh salad. For the pie chart I noticed that 72% of people thinks that this is a good idea. As I know thatthey would like to have a sandwitches and salad I had asked them how much they would like to be charged for them. I had allowed them to choose the costs starting form  £1.50 up to  £4+. More than 56% said that they prefeer the price to be  £2.50 as for this price the best igridients can be purchased. As there are many students living in the Lisburn I had asked peoples in their opinion would the discount for students encourage them to go to coffee shop. The 56% of votes said that they would be encouraged to visit the coffee shop. Secondary research The UK branded coffee chain market continues to expand rapidly, exceeding 3,000 outlets for the first time and an estimated  £1.3 billion in turnover as UK consumers taste for coffee bars continues unabated. According to Allegria Strategies, the market is forecast to nearly double over the next decade to reach up to 6,000 outlets and turnover in excess of  £2.5 billion within 7-10 years. Growing at more than 15 per cent for the past eight years, UK coffee bar culture has extended well beyond UKs major urban centres and is penetrating smaller towns and the provincial areas due to phenomenal consumer demand and rapid opening programmes by coffee bar chains Starbucks, Costa Coffee, Caffà ¨ Nero, Pret A Manger and others. Results from more than 6,300 telephone and face-to-face interviews with UK consumers (the largest sample ever conducted in the UK) reveal that consumers are visiting branded coffee chains more frequently than ever before: Coffee shops are now mainstream and form an important part of UK lifestyles with more than 11 million adults visiting coffee shops at least once per week and more than 20 million persons visiting the venues at least once per month AIMS/OBJECTIVES OF A BUSINESS An aim is a long term intention that business wants to achieve. All businesses have different aims and sometimes some businesses have more than one. To achieve the aims an objectives are set. Objectives are the goal outcomes or targets. Many businesses are using SMART method to set their objectives achievable. Smart stands for; Specific they must set out clearly what a business sis aiming to do. Measurable they must be capable of being met Achievable everyone involved in reaching the objective must agree with the objective and understand what is meant by it. Realistic the objectives must be achievable from the source that are available form and for the state of the market conditions Time specific the objective should state over what time of period the objective has to be achieved. Many businesses create a mission statement, which states the purpose of the business and it values. It is meant to stake both the aims of the business and the provide a vision of the business for the stakeholders. The aim for my business is; Achieve the loyal customers by offering an efficient and reliable service at a low cost. The objectives for my business are; Survive when I first start out Get loyal customers and staff To break even within the first year Become market leader within next five years PROMOTION STRATEGIES Marketing mix refers to the primary elements that must be attended to in order to properly market a product or service. Also known as The 4 Ps of Marketing, the marketing mix is a very useful, if a bit general, guideline for understanding the fundamentals of what makes a good marketing campaign Elements of the marketing mix are often referred to as the four Ps: Product A tangible object or an intangible service that is mass produced or manufactured on a large scale with a specific volume of units. Price The price is the amount a customer pays for the product. It is determined by a number of factors including market share, competition, material costs, product identity and the customers perceived value of the product. Place Place represents the location where a product can be purchased. It is often referred to as the distribution channel. Promotion represents all of the communications that a marketer may use in the marketplace. Promotion has four distinct elements advertising, public relations, word of mouth and point of sale This is the marketing mix for my business considering 4ps; Product The product which I am going to provide is a wide range of coffees, teas, snacks, sandwiches and fresh salads and fizzy drinks. Price Because of the recession not many peoples will allow them selves for the take away coffee. There fore I will need to sell my product in the lowest price as possible. All the hot drinks will be sold between  £2  £4, all the soft drinks  £1 and the snacks, sandwiches and salads between  £1,50- £3. Place The premise which I choose for my coffee shop is located in the centre of the city centre. The premise which I found is for the rental purpose and costs  £1,000 per month. This property has 2 floors with reasonable good sizes. The ground floor will be used as a main area of the shop where customers will be served and use the Wi-Fi, where as the first floor will be the office area. Promotion To promote my business I am going to us local news papers to advertise my coffee shop. To support my promoting method I am going to use leaflets which will be delivered by the local postman. The leaflet details will include the prices, available coffees types, and location and contact details. LIKELY COMPETITORS I discovered my likely competitors by doing research on yell.co.uk and from local knowledge. There are four well established businesses which I will compete with for survival. This are; Esquires coffee shop The house of Vic-Ryn Street cafe Coffee Inc Each of those businesses are well established and have regular customers. Because all of them are mainly located in the city centre the competition will be heavy on me as the premise which I will use form my business is also in the city centre. SWOT ANALYSIS SWOT analysis can be defined strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a business venture. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favourable and unfavourable to achieving that objective. SWOT represents; Strengths: attributes of the person or company those are helpful to achieving the objective(s) Weaknesses: attributes of the person or company those are harmful to achieving the objective(s). Opportunities: external conditions those are helpful to achieving the objective(s). Threats: external conditions which could do damage to the objective(s). Strengths and Weaknesses can be controlled within the business. It is up to the manager to deal with these at the right time and in the appropriate way. Opportunities and Threats are out of control of the manager. Theyre therefore external. This is my swot analyse for my business CAFE LATTE. Strengths Sit in facility Wi-Fi facilities Offering different types of foods and snacks Located in the city centre Weaknesses Not well known Competition with established businesses Opportunities Expand locally Buy more specious premises allowing being more welcome Threats Esquires coffee shop The house of Vic-Ryn Street cafe Coffee Inc SECTION B PHYSICAL RESOURCES Physical resources are defined as resources that are available to business organisations in the form of buildings and other machineries which are needed for the day to day running of the organisation. To smoothly operate my business I need meet physical requirements which will allow me to survive and operate my business. the equipments which I need for my business are listed bellow. The equipment list Item Quantity Unit Price Total Price Timing Buy/Lease Counter 1  £10,000  £10,000 Start Up Buy Seating (chairs and tables) 15  £8,000  £8,000 Start Up Buy Water boiler 1  £464.13  £464.13 Start Up Buy Coffee machine 2  £500  £1,000 Start Up Lease Coffee (12 kg) 4  £60  £240 Start Up Buy Cookery 60  £329.50  £329.50 Start Up Buy Knives, forks and spoons 40  £50  £50 Start Up Buy Refrigerated display units 1  £2,010.  £2,010 Start Up Buy Cleaning fluids 6  £600  £600 Start Up Buy HUMAN RESOURCES Human resources are known as people employed by a business. This means that human resources are the number of people working for the business. The number of human resources is related to the business, for example a small business such as a window cleaning service has small human resources which may include two or five employees. The big international businesses on the other wise, such as Tesco, or Sainsbury are more likely to have thousands or even more workers. Because my business is small and is just starting up I wont need too many human resources. To be able to successfully operate the business I am going to employ 2 full time and 1 part time employees. Each employee will be required to have good communication skills and be able to work in the busy atmosphere. Because I want to encourage my staff to perform on their best abilities I am going to award them by adding additional  £1.00 to theirs minimal wage. There are several policies that I will need to take into consideration if I want my business to operate legally and satisfy my customers and staff. Health and safety issue is the most important regulation which I need to consider. I will be required to make sure that I will create a safe environment for my workers and the customers. If the accident will happen because of not making any health and safety requirements I can be sued which could cost me money and time, including it could reflect my business reputation. Equal Pay Act, 1970 Sex Discrimination Act, 1995 is another important law which I have to make sure I will consider within my business. When I will going to advertise my vacancy I cannot specify what sex I am looking for as this is how the law is broken. I have to make sure that I will give a fair chance for both sexes to try to apply for the job. The National Minimum Wages Act, 1998 this law simply clarified that people cannot be underpaid under the minimum national wage. There are three branches of this legislation; Between 16 and 17 years  £3.57 an hour Between 18 and 21 years  £4.83 an hour 22 and over  £5.80 an hour Data Protection Act, 1984 I need to consider this act in order to keep my staff and my business details save. Because I will need to store the private and financial details I will need to make sure that no on unauthorised will have access to these details. Disability Discrimination Act, 1995 I need to make sure that I wont discriminate any employee because of theirs disability. I am not going to consider the disability in picking appropriate employee for my business. The only fair way is by picking the qualifications and experience. RESOURCES AND QUALITY CONSTRAINTS LEGAL AND ECONOMIC Pestle analysis is one of framework that categorizes environmental influences as political, economic, social and technological forces. Sometimes two additional factors, environmental and legal, will be added to make a PESTEL analysis, but these themes can easily be subsumed in the others. Political influences These refer to government policy such as the degree of intervention in the economy. Economic influences These include interest rates, taxation changes, economic growth, inflation and exchange rates. Social influences Changes in social trends can impact on the demand for a firms products and the availability and willingness of individuals to work. Technological influences new technologies create new products and new processes. Legal influences environmental factors include the weather and climate change. Changes in temperature can impact on many industries including farming, tourism and insurance. Environmental influences these are related to the legal environment in which firms operate. For my business there are several constraints relevant to me are legal, economic, technical, and environmental. Legal constraints The legal constraints that will affect my business are regulations for a contract for example how long is the credit on it. Anther legal constraint would be DPA (Data Protection Act) in the UK gives the right to individual to know which companies hold their personal details and they are allowed to ensure that the information is accurate. This data should be also being protected within the business to ensure no one unauthorised will access the personal details. Economic constraints due to the current economy it will be harder for me to get a bank loan. Also because of the recession not every one will be able to afford the take away or sit in coffee. Technical constraints I will need to make sure that all the Environmental constraints as I will provide a take away service I will provide with recycle cops which will be easily recycle and good for environment. Also I will provide customers with business plastic take away cups with the lids which will allow them to use it to refill. SECTION C SOURCES OF FINANCE There are different sources of finance I can use to finance my business. Those sources are; Money from family or friends because I am a sole trader I may be able to borrow money from family or friends without paying interest, which would be very beneficial for me. Bank loan another way to finance my business I may use a bank loan. Loans from a bank or a building society can be expensive as they will include the interest. An agreed amount is borrowed and repaid over a fixed period of time with interest. To start up my business I am going to use the  £10,000 that I was left by my grandparents. Although my physical resources of total of  £22.694. I decided that I am going to take a bank loan. The loan which I will take will cover both my start up cost and running costs. I am hoping to get a loan that will be for 4-5 years which also will cover the unexpected expenses. The loan which I choose is Platinum Loans. I got a loan for  £30,000 and will be repaid by 5 years. The monthly amount to repay is going to be  £601.63 and the 7.8 APR which I total I will need to repay  £36,098. FORECASTS: CASH FLOW AND BREAKEVEN SUSTAINING IDEA After analysing project figures and the information that I had gathered I can say that the business will make profit within the first year. If I would considering expanding my business locally in the future I will need to consider all the major expenses to pay. Into these expenses I am considering a bank loans which will be repaid within 5 years and capital purchase. After two or more years of trading the external factors will need to be considered, as they may change the impact on the business. Those external factors that would change are due to Political, Legal, Social and Economic influences Political influences Legal influences Social influences Economic influences SECTION D BREAK EVEN ANALYSIS Most of the businesses frequently want to know the amount of the business need to produce or to reach break even. If the business has collect the information about fixed costs and variable cost and what process it is going to charge, it will allows to calculate how many units will be required to sell to cover all of its costs. The stage of sales or outputs where total costs are exactly the same as the total revenue is called a breakeven point. There are several uses of the break even and the most common one which are used by almost most of the businesses are based on: Calculate in advanced the level of sale needed for break even See chow changes on the in cost affect the break-even point and profit See how effect in output affects profit. To calculate a break even point I am going to use following formula; BE= SP-VC/FC. (BE- Break Even, SP Selling Price, VC Variable Cost, FC Fix Costs). I also used this formula to draw up business break even point graph what will show exactly how much units needs to be sold to break even. Selling price Is the price that a unit is sold for. Sales Tax is not included the selling price and a sales tax paid is not included as a cost. The selling price of my products is 2,50 per unit Variable cost Variable costs are costs directly related to production units. Typical variable costs include direct labour and direct materials. Coffee, Cups, Lead and Sugar the total of those materials is 0.40 per unit. Fix costs Cost that do not change when production or sales levels do change, such as, rent, property tax, insurance, or interest expense. The total fix cost is  £55,934 Break even calculation BE= 2.50-0.40/55,934 BE = 26,636 This is the graph which shows the break even unit point. As you can see to break even I need to sell 26,636 units of coffee in a year. To get more specific figures that 2,220 coffees a month, which I think is achievable.  £ 0 RATIO ANALYSIS EXCLUSIVE SUMMARY The business that I had decided to set up is CS which will be located in - in Lisburn. The opening hours will be 8 am to 5 pm form Monday to Friday and 10 am to 3pm in Saturday and Sunday. Products The products that my coffee shop is going to sell is a wide range of coffee, teas, snacks, sandwiches and fresh salads and fizzy drinks. All the foods will be home made which will Employees I am going to employ two full times and one part time employee. Each of the employees will be paid  £1 over their minimal wage, which will allow me to motivate them. Finance Because  £10,000 which I got from my grandparents will be not enough to start the business I will take the loan. The amount I am taking is  £30,000 which will be repaid over 5 year time. Competition Esquires coffee shop The house of Vic-Ryn Street cafe Coffee Inc